Company’s Jaguar Land Rover unit, which the company bought from Ford Motor in 2008 is doing particularly well
Tata Motors, the country's largest truck and bus maker, on Friday reported a consolidated net profit of Rs2,420 crore for the third quarter ended 31 December 2010, from Rs650 crore in the corresponding period a year ago, on robust sales at home and improving demand at its Jaguar and Land Rover unit.
Standalone net profit increased 2.46% at Rs410 crore in the period compared to Rs400.14 crore in the previous corresponding period, the company said in a statement.
Consolidated revenue rose 22% to Rs31,685 crore from the year-ago period. Net sales during the October-December quarter stood at Rs11,458.95 crore compared to Rs8,923.99 crore in the corresponding period of the previous financial year.
During the period under review, consumption of raw materials and components cost stood at Rs 6,498.97 crore. (Compared to Rs 4,975.29 crore in the previous period.) Vehicle sales got better in the quarter at 1,94,085 units compared to 1,65,413 units in the year-ago period.
The company, whose products include utility vehicles, cars and the ultra-cheap Nano, is seeing a surge in demand within the country amid rapid economic growth. The Jaguar Land Rover business also reported profit after tax of Rs1,958 crore, Tata Motors said.
Tata Motors shares closed the week at Rs 1,144.65 on the Bombay Stock Exchange (BSE), up 3.79% from the previous close compared with the Sensex gain of 1.5%.
Bombay Dyeing net profit stood at Rs2.36 crore in the December 2009 quarter
Bombay Dyeing & Manufacturing Company has posted a net profit of Rs67 lakh during the third quarter ended 31 December 2010.
The net profit stood at Rs2.36 crore in the same period last fiscal, the company said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company rose to Rs429.51 crore during the third quarter under review compared with Rs402.75 crore during the same period last fiscal.
On Friday, Bombay Dyeing ended 4.53% down at Rs297.40 on the BSE, while the benchmark Sensex ended 1.52% up at 17,728.61.
Punj Lloyd group company, PL Engineering has signed an agreement with GECI International to set up a joint venture company to offer engineering services in the aerospace sector
Punj Lloyd group company, PL Engineering said it has signed an agreement with France-based GECI International to set up a joint venture company to offer engineering services in the aerospace sector.
"The JV will initially focus on providing services to the growing Indian aerospace sector on supporting activities in Europe, followed by looking at the global market," PL Engineering said in a statement. No financial details were provided.
PL Engineering CEO Sanjay Goel said, "This JV will bring together the Indian resources and skills in design and engineering with global aerospace technology, knowhow and experience."
GECI International chairman Serge Bitboul said that "A partnership with the Punj Lloyd Group will allow us to offer an extended range of engineering services and together capture a significant part of the growing Indian aerospace sector."
Bitbould added that the company is in the process of establishing itself as aircraft manufacturer with the production of the turboprop aircraft F406 and the development of the Skylander, a 19-seater turboprop, with serial aircraft available in 2013.
PL Engineering provides a full spectrum of design and engineering services in the oil and gas, chemical and petrochemical, power and infrastructure sectors.
GECI International has been in the business of providing high level engineering activities, especially to the aerospace sector for more than 30 years.
On Friday, Punj Lloyd ended 7.33% up at Rs71.05 on the BSE, and the benchmark Sensex ended 1.52% up at 17,728.61.